A seven-property grocery-anchored retail portfolio was sold for $115 million. The portfolio comprises 558,000 square feet of retail space located at 430 Lewandowski Street, 6175 Hickory Flat Highway, 380 South Deshon Road, 3900 Flat Shoals Parkway, and 3425 Cascade Road, situated in Lyndhurst, NJ; Canton, Stone Mountain, Decatur & Atlanta, GA. The properties are primarily occupied by grocers including Stop & Shop, and have a leasing rate of 99.6%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $115,000,000
• Square Footage: 558,000
• Sale Price Per Square Foot: $206
• Buyer: Medipower
• Broker Representation: Jim Hamilton, Brad Buchanan, Andrew Kahn, Anton Serafini, Kevin O’Hearn, J.B. Bruno, Jose Cruz, Jordan Lex, Daniel Naughton, Thomas Kolarczyk - JLL
• Mortgage Brokers: Gregg Shapiro, Jim Cadranell, Jon Mikula, Hunter Goldberg, Streeter Simmons, Caleb Henry, Kelsey Bawcombe - JLL

The transaction involved a real estate investment trust that divested its grocery-anchored retail portfolio. JLL was instrumental not only in brokering the sale but also in arranging the acquisition financing for Medipower.